Today
Fines to quintuple for badly behaved accountants
Chartered Accountants ANZ members voted to increase the maximum fine for firms from $50,000 to $250,000 to rebuild the sector’s image.
- Edmund Tadros
This Month
Unpleasant work or low pay? What’s behind the auditor shortage
ASIC chairman Joe Longo and Labor senator Deborah O’Neill have different takes on why auditing is struggling to attract graduates.
- Edmund Tadros
Commuters captured under tough climate regime
Carbon emissions caused by employees commuting to work or on business trips may need to be disclosed under mandatory new accounting standards.
- Patrick Durkin
September
PwC seeks absolution but can it really change?
The publication of two documents and a video apology for the tax leaks scandal this week was meant to be a circuit breaker. But it won’t be that easy.
- Edmund Tadros
The most powerful people in the consulting sector in 2023
Last year, the nation’s key players were from the top five firms. This year, they are all outsiders.
- Edmund Tadros
August
I’m bored of being an accountant. What other jobs pay well?
Career coach Leah Lambart helps a management accountant who has lost motivation switch careers into a different high-paying industry.
- Euan Black
Professional services biz BlueRock seeks growth capital partner
The business has brought on Ad Astra Corporate Advisory and will likely be valued at $120 million-plus
- Sarah Thompson, Kanika Sood and Emma Rapaport
Big four name-and-shame audit quality reprieve criticised
The concern comes amid growing disquiet about the dominance of the big four firms – KPMG, PwC, EY and Deloitte – in audit work.
- Ronald Mizen
BDO USA partners in line for windfall after $2b debt deal with Apollo
The private capital group is providing debt financing to fund purchases of shares by a new employee trust, as well as to refinance some of BDO USA’s existing obligations.
- Stephen Foley
Accounting firm Kelly Partners bankers up for strategic review
Kelly Partners has hit the ground running on its mooted strategic review.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Tax minimisation
Level the tax-raising playing field
The government’s crackdown passes the pub test. But the revenue lost through the most egregious tax avoidance schemes is dwarfed by the amounts whisked away through perfectly legal means.
- Robert Breunig
- Opinion
- Chanticleer
The real pain is only starting for consulting’s big four
The scandal engulfing the big four accounting firms is following the path of the banking sector’s firestorm. History says sweeping change will come, one way or another.
- James Thomson
July
- Opinion
- Chanticleer
Welcome to the big four’s worst nightmare
The skewering of Deloitte’s CEO before a parliamentary committee shows the veil of secrecy the big four has enjoyed is gone. And now tougher regulation looms.
- Updated
- James Thomson
- Opinion
- Chanticleer
KPMG and Microsoft’s AI deal is an $18b taste of what’s to come
The new partnership to roll out artificial intelligence tools for audit, tax and advisory projects raises questions about the future of work and regulation.
- James Thomson
RSL pour, please! Jon Adgemis’ pubs roll-up orders $450m refi via KPMG
KPMG dealmaker-turned-property investor Jon Adgemis has roped in his old employer to serve up a $450 million debt refinancing.
- Updated
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Start-ups
Investors feud with venture fund Lakeba over accounts
An audit of Australia’s fastest-growing venture capital funds should be referred to ASIC and the ATO, a shareholder commissioned review claims.
- Max Mason
MYOB’s PayGlobal in crosshairs of offshore suitors
Prospective buyers were told the business made about $30 million revenue and $15 million at the cash earnings line.
- Sarah Thompson, Kanika Sood and Emma Rapaport
June
- Opinion
- Chanticleer
Desperate PwC split could change big four firms forever
If it works – and that’s a big if – PwC’s plan to split off its government consulting practice could send shockwaves through the local professional services sector.
- James Thomson
TA Associates lobs offer for financial planner roll-up AZ NGA
Accounting and financial advice firm AZ NGA has rejected a takeover offer of just under $600 million from US private equity firm TA Associates.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Opinion
- Chanticleer
Senate report shows PwC still doesn’t get it
A committee is asking whether the firm’s response to the tax leaks scandal shows it “lacks the capacity to act in an honest, open, and straightforward manner”.
- James Thomson
